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Search Results 0 to 14 of about 15 (some duplicates have been removed)
Jan 23, 2013 1:00pm EST
to do that. >> 10 if i'm hearing you right, john, is that using the debt ceiling as kind of hostage in budget negotiations, democrats feel that they won on that and that this is not going to come back again? >> yes and the ultimate sort of dooms day threat from washington, which is we are going to have a default or either a default on debt or selective payment of federal government obligations, appears to be melting away and that puts us back in the more conventional political back and forth about budgets and the automatic cuts. sequester. that gets us back to where we were in the 1980s. it is more of a norm of a political process. if we can stay there, that's good news for this president because it reduces a threat to the economy and of course good news to people working in the economy in the financial market. >> john harwood, thank you very much. to mary thompson now with breaking news. >> announcing charges against three alleged international cyber criminals. the three have been charged again in infiltrating computers around the world, about a million computers around the world, including 40 thousand here in the u.s. with a virus known as the gozi virus. the plot the cyber criminals wanted to
Jan 23, 2013 1:00am PST
don't raise the debt ceiling now, or if you postpone this confrontation, if you say every 60, 90, or 100 days, we're going to again have the same kind of conversation about the debt ceiling, you will continue to have this sort of spike in policy uncertainty. you will continue to undermine the private sector. you will continue to delay investment and to reduce employment relative to what it would be otherwise. >> reporter: the debt ceiling extension would allow the treasury to pay the nation's bills through at least may 19. darren gersh, "n.b.r.," washington >> tom: the u.s. housing market had a quiet end to its best year since 2007. sales of existing homes fell unexpectedly in december by 1% down to a 4.94 million annual rate. analysts note the drop in sales is not entirely bad news because there were fewer homes on the market. inventories are at their lowest level in seven and a half years. sales were up in the northeast and western u.s. while they fell in the midwest and south. for the entire year, existing home sales saw their best year since 2007. >> tom: julia coronado is the chief economist of north america, and
Jan 23, 2013 9:00am PST
the bump of the fiscal cliff. now we must negotiate the debt ceiling. high unemployment, social unrest. again, we learn from the mountain. baby steps to build confidence. >> your free ski slowly. we feel what we are doing. then we get confident and we get faster and faster. >> reporter: but economic growth seemingly won't go faster. there's always the risk in the global economy that something goes wrong. snowboarders are like central bankers. they have their own way of treading down the mountain. for bankers it means printing money. it's brutal economics. what's the secret to snowboarding? you pick up speed too quickly and you end up falling over? >> no, come on. you need to move. >> reporter: why do you like snowboarding? you go too fast, too quickly, and fall over. >> not necessarily. >> reporter: perhaps the best lesson to be learned in managing risk comes from the cross-country skier, those hearty experts of slow, steady progress taking huge amounts of energy. >> you need to be fit with the whole body, not only with parts of your body. >> you make the power around. you can slowly or you can a
Jan 23, 2013 7:00am EST
leadership, is to bring a short-term extension of the debt ceiling to the floor, which means they have decided once again to play partisan politics with the debt ceiling. this is a bad idea. this is not the way a mature governing body ought to behave. we ought to do our job. next month, the united states will hit the debt ceiling. without action the united states will default on its debts. the last time the republican leadership played this dangerous game with economic russian roulette, they threatened the full faith and credit of the united states for the first time in our history. for some reason they seem hell-bent on doing it again. we need to be clear about one thing, the debt limit is not about new spending. it's not about increasing the deficit. the debt limit is simply the way congress pays for things that we have already bought. things like the wars in iraq and afghanistan. by the way, my friends on the other side continue to insist we don't pay for, just goes on our credit card. things like the medicare prescription drug benefit that was not paid for that my friends on the other side of the aisle
Jan 23, 2013 1:00am EST
a potential default." "the washington post" stated, "in 2011, the debt ceiling dispute traumatized the economy." a senior economist was one of the many economists who has warned against the repeat. he wrote in a report last week, and again i quote, "if political bickering over the debt issue reaches as it did in the summer of 2011, then consumer confidence will dive further into recession territory." we are hearing today that there may be other options. some seem to suggest it might be possible to obstruct treasury to pay bondholders while delaying payment to others. whose bills should be delayed or cut? the social security checks of 56 million seniors and people with disabilities, the salaries of more than 2 million american personnel, many of whom are currently in harm's way? the idea is so troubling that a strong -- it drew a strong rebuke from the fact checker last week. he said, "by available evidence, it appears all but impossible for picking and choosing of payments." he cautioned his colleagues last week that such an approach is unworkable. i also urge, and i went back and check it, that it embellishes history to imply that threatening to default has historically been used for leverage for deficit reduction such a
Jan 22, 2013 8:00pm EST
ceiling right now they would rather have a fight over the debt ceiling. i don't have a problem with that. i need to hear that commitment and what we've been asking and they're going to be asked again today at the conference meeting to make the commitment that we're going be on a path to balance in ten years. and if they're willing to fight with us on that, i think i can stand for that. >> thank you. we talked a lot about the 10-year balance -- [inaudible] what specifically does that mean. replace the cuts with other cuts or are they just going let the sequester take effect? what is your understanding? >> the number is 9 eu7 with the -- 9874 with the sequester. it's sticking to that number letting the sequester take effect or replacing the, you know, the cuts and military and other programs. with other cuts that cut us to 974. it's stick to the 974 number, which i believe was the roc number last year in our budget. if we can get the democrats to agree with us doing the reform or manned story programs, we're willing to shift some of that to mandatory. >> and look, i would be elated to see a movement to the mandatory. if you look at the map, the mandatory what consume us as a people. if ca
Jan 23, 2013 7:00am PST
low. >> let's talk about washington. tulsa and gears up to vote on a temporary debt ceiling height. bad for the economy and jobs. >> i take it is a loser, again this is my opinion. republicans are trying to do cut stores medicare and these are automatic cuts that will happen. they do not want to look like they're trying to stop the economy from functioning. that one-stop social security. they're trying to refocus. >> what i love about this bill is that they're putting a provision in it that if they do not pass and then they will not get paid. >> they have not passed a bill of four years. we often make but as every year and they cannot begin a federal budget done. obama stated that he will get this done. maybe if they do not get paid that will get it done. >> wenner for to that would be the toyota prius hybrid it was the top-selling car in california. toyota is doing very well. toyotas and hondas seem to be the type of car that californians by. uy. the trades big three are hurting. they're not on the list. california tends to be a trend setter. they have more profits. and the reports call the pre is roomy and affordable. >> let's talk about our of
Jan 23, 2013 5:00pm EST
ceiling debate. as i said before, not everything has to be a big fight. this proposal they have in the house is that worth fighting about. so again, i think the speaker for his work in this regard. the metaclass has been telling us they don't want another crisis in this showcase send the security they deserve. senator durbin. >> thank you, mr. leader. america is suffering from confrontation fatigue. they've had enough of it. they want us to solve the problems and challenges facing our nation. they certainly don't want to see america default on its debt for the first time in its history. they don't want to see the interest rate go up on the debt we have to pay. as sharon murray can tell you, for every 1% are interest rate goes up because of confrontations and doomsday scenarios, because the american tax years $1 trillion over 10 years, $1 trillion. for this confrontation fatigue across america has led to some dramatic rethinking in the house of representatives. today the vote in the house of representatives such an important precedent moving forward. the bedrock safety net programs will not be held hostage in a dangerous threats to d
Jan 23, 2013 10:00am EST
with the debt ceiling and spend our time in energy on job creation. i supported a clean debt limit bill, however, because in this version congressional pay has been tied directly to passing a budget, it is important to ensure that the budget that is passed is responsible and protects our most vulnerable citizens. my amendment would not kill the underlying legislation. it would merely add commonsense protections to the bill for members of our armed forces, our veterans, and our seniors from the budget cutting process. anyone who supports the underlying legislation has no reason to not also support this amendment. if adopted, the debt limit would still be raised to allow the government to pay its obligations through may 19, and members of congress would still have their pay withheld if they failed to agree to a budget resolution by april 15. the amendment simply clarifies that the budget resolution protects our troops, veterans, and seniors. i recently visited the west palm beach v.a. medical center. speaking with both veterans and staff who i heard their very real fears that their b
Jan 23, 2013 7:00am PST
some breathing room. it does not enforce the debt ceiling. we'll be back at this in a couple of months. natalie? >> kelly o'donnell, thank you so much. >>> cnbc's courtney reagan is at the new york stock exchange for us again this morning. good morning, courtney. >> good morning, natalie. that vote that kelly o'donnell was speaking of will calm wall street jitters. they want to see that vote passed, at least until may, when we have to come up with a better solution. technology was a stock market laggard yesterday, it could prove to be a positive today, after unexpected earnings from both google and ibm. stocks will strive to hit new highs today as they home prices, united technology and the big one, apple after the close. >> we'll be watching you guys later on this afternoon. thank you so much. >>> a win in israel for prime minister benjamin netanyahu. his hard-line party will be forced to form a coalition with the other party.3 c3 gobierno de coaliciÓn, ya que >> catch -- dash cam video from mosc moscow. a warning some viewers may find this disturbing. a 2-year-old narrowly cheating death twice. first her family's suv slams into the truck and the child goes flying out and then a truck narrowly is missed by a
Jan 23, 2013 12:00pm EST
may be avoiding some of this, immediate consequences of the so-called debt ceiling debate, which i'm glad to see -- as we make some of the challenging choice, and i again want to compliment my friend, the senator from illinois, who has been as stalwart as anyone in this chamber stepping up and speaking truth about some of the choices and challenges we have to make, we are going to have to proceed at a level of spending that is less than what we've had in the past. but as we think about cutting back budgets, i think it is important to remember that behind many of these budgets, there are not just numbers, but there are incredible professionals who give their life's service to making a stronger, stronger nation. so with this tribute to jean and sandy, i commend these two great federal employees. i will, again, be down on a regular basis to celebrate federal employees throughout this congress, because too often many disparaged government in today's day and life sometimes disparage government service. but for jean vertifay, we might not have as safe a nation as we do today. with that, i yield the floor. mr. durbin: mr. president? the presiding officer: the sena
Search Results 0 to 14 of about 15 (some duplicates have been removed)